Oarsman Capital 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
AT&T Inc	COM	00206r102	1,109	38,033	SH		SOLE		37,868	0	165
AbbVie Inc.	COM	00287y109	1,568	20,576	SH		SOLE		20,046	0	530
Abbott Labs	COM	002824100	287	3,632	SH		SOLE		3,447	0	185
Accenture	COM	g1151c101	314	1,925	SH		SOLE		1,770	0	155
Allegheny Technologies	COM	01741r102	497	58,485	SH		SOLE		58,485	0	0
Alliant Energy	COM	018802108	1,309	27,117	SH		SOLE		26,517	0	600
Alphabet Inc. Class A	COM	02079k305	519	447	SH		SOLE		432	0	15
Alphabet Inc. Class C	COM	02079k107	2,733	2,350	SH		SOLE		2,317	0	33
Amazon.com	COM	023135106	1,616	829	SH		SOLE		799	0	30
American Green Group, Inc.	COM	02639t200	0	50,000	SH		SOLE		50,000	0	0
Amgen	COM	031162100	582	2,869	SH		SOLE		2,834	0	35
Apache Corporation	COM	037411105	71	16,955	SH		SOLE		16,825	0	130
Apple Inc.	COM	037833100	3,283	12,912	SH		SOLE		12,732	0	180
Arrow Electronics	COM	042735100	305	5,875	SH		SOLE		5,875	0	0
BP p.l.c.	COM	055622104	215	8,830	SH		SOLE		8,680	0	150
Bank of America	COM	060505104	963	45,381	SH		SOLE		45,181	0	200
Berkshire Hathaway cl. B	COM	084670702	1,697	9,280	SH		SOLE		9,055	0	225
Bristol-Myers Squibb	COM	110122108	858	15,390	SH		SOLE		15,130	0	260
CVS Caremark Corp	COM	126650100	2,548	42,941	SH		SOLE		42,051	0	890
Cambridge Heart	COM	131910101	0	25,000	SH		SOLE		25,000	0	0
Carnival Corporation	COM	143658300	143	10,895	SH		SOLE		10,465	0	430
Caterpillar Inc.	COM	149123101	803	6,924	SH		SOLE		6,840	0	84
Chevron Corp.	COM	166764100	585	8,067	SH		SOLE		7,627	0	440
Cisco Systems Inc.	COM	17275R102	1,100	27,977	SH		SOLE		27,842	0	135
Citigroup Inc.	COM	172967424	1,182	28,061	SH		SOLE		27,911	0	150
Colgate-Palmolive Co.	COM	194162103	244	3,680	SH		SOLE		3,680	0	0
Deere & Co	COM	244199105	342	2,479	SH		SOLE		2,479	0	0
Diebold, Incorporated	COM	253651103	89	25,375	SH		SOLE		25,375	0	0
Duke Energy	COM	26441C204	234	2,889	SH		SOLE		2,889	0	0
Exxon-Mobil	COM	30231G102	314	8,263	SH		SOLE		8,213	0	50
Fiserv Inc.	COM	337738108	2,475	26,052	SH		SOLE		25,852	0	200
General Electric Co.	COM	369604103	1,076	135,537	SH		SOLE		134,057	0	1,480
Gilead Sciences	COM	375558103	251	3,356	SH		SOLE		3,356	0	0
Helen of Troy, Ltd	COM	g4388n106	1,277	8,867	SH		SOLE		8,627	0	240
Hershey Foods Corp	COM	427866108	265	2,000	SH		SOLE		2,000	0	0
Home Depot Inc.	COM	437076102	213	1,142	SH		SOLE		1,142	0	0
Illumina, Inc	COM	452327109	761	2,788	SH		SOLE		2,777	0	11
Ingersoll Rand Inc.	COM	45687v106	213	8,572	SH		SOLE		8,572	0	0
Intel Corp.	COM	458140100	1,810	33,442	SH		SOLE		33,287	0	155
Intl Business Mach. Corp.	COM	459200101	232	2,087	SH		SOLE		2,087	0	0
J.P. Morgan Chase	COM	46625H100	1,534	17,041	SH		SOLE		16,886	0	155
Johnson & Johnson	COM	478160104	2,655	20,243	SH		SOLE		19,798	0	445
Kimberly-Clark Corp.	COM	494368103	1,763	13,786	SH		SOLE		13,531	0	255
Lockheed Martin Corp.	COM	539830109	317	935	SH		SOLE		935	0	0
MGE Energy	COM	55277p104	640	9,777	SH		SOLE		9,627	0	150
MGIC Investment Corp.	COM	552848103	1,257	197,885	SH		SOLE		195,695	0	2,190
McDonald's	COM	580135101	685	4,144	SH		SOLE		4,059	0	85
Medtronic plc	COM	g5960l103	1,252	13,882	SH		SOLE		13,397	0	485
Microsoft Corp.	COM	594918104	2,575	16,327	SH		SOLE		15,967	0	360
Modine Manufacturing	COM	607828100	284	87,325	SH		SOLE		84,125	0	3,200
NVidia Corp	COM	67066G104	633	2,400	SH		SOLE		2,375	0	25
National HealthCare Logs	COM	63633Y108	0	200,000	SH		SOLE		200,000	0	0
Novartis AG	COM	66987v109	949	11,515	SH		SOLE		11,390	0	125
O-I Glass, Inc.	COM	67098h104	942	132,525	SH		SOLE		132,525	0	0
Olin Corp	COM	680665205	420	35,980	SH		SOLE		35,980	0	0
Oracle Corp.	COM	68389X105	226	4,676	SH		SOLE		4,576	0	100
Oshkosh Corp	COM	688239201	234	3,640	SH		SOLE		3,640	0	0
PayPal Holdings, Inc.	COM	70450y103	1,015	10,598	SH		SOLE		10,548	0	50
Pepsico Inc.	COM	713448108	1,796	14,958	SH		SOLE		14,648	0	310
Pfizer Inc.	COM	717081103	806	24,696	SH		SOLE		24,546	0	150
Procter & Gamble Co.	COM	742718109	982	8,926	SH		SOLE		8,576	0	350
Quad/Graphics, Inc.	COM	747301109	88	35,090	SH		SOLE		35,090	0	0
Qualcomm Inc.	COM	747525103	598	8,841	SH		SOLE		8,616	0	225
RPM Inc.	COM	749685103	905	15,209	SH		SOLE		14,924	0	285
Rockwell Automation	COM	773903109	277	1,835	SH		SOLE		1,835	0	0
Schlumberger Ltd.	COM	806857108	374	27,712	SH		SOLE		26,737	0	975
Stanley Black & Decker, Inc.	COM	854502101	544	5,441	SH		SOLE		5,401	0	40
TCF Financial Corporation	COM	872307103	315	13,888	SH		SOLE		13,693	0	195
Target Corp.	COM	87612E106	641	6,899	SH		SOLE		6,842	0	57
The Walt Disney Co.	COM	254687106	395	4,094	SH		SOLE		4,094	0	0
United Parcel Service	COM	911312106	273	2,926	SH		SOLE		2,926	0	0
UnitedHealth Group Inc	COM	91324p102	1,655	6,635	SH		SOLE		6,567	0	68
VF Corp	COM	918204108	226	4,175	SH		SOLE		4,025	0	150
VanEck Vectors Oil Services ET	COM	92189f718	82	20,425	SH		SOLE		20,025	0	400
Verizon	COM	92343V104	2,518	46,857	SH		SOLE		45,987	0	870
Visa Inc.	COM	92826c839	205	1,275	SH		SOLE		1,135	0	140
WD 40 Company	COM	929236107	359	1,785	SH		SOLE		1,785	0	0
WEC Energy Group, Inc.	COM	92939u106	1,878	21,309	SH		SOLE		20,653	0	656
Wal-Mart Stores Inc.	COM	931142103	365	3,210	SH		SOLE		3,160	0	50
Walgreens Boots Alliance	COM	931427108	292	6,375	SH		SOLE		6,375	0	0
Western Digital Corporation	COM	958102105	631	15,156	SH		SOLE		15,081	0	75
Duff & Phelps Select Income Fu	ETF	23325P104	111	11,363	SH		SOLE		11,063	0	300
Invesco NASDAQ 100 Index Track	ETF	46090e103	273	1,435	SH		SOLE		1,435	0	0
Madison Covered Call&Equity St	ETF	557437100	94	18,548	SH		SOLE		16,248	0	2,300
S&P Dep Receipts	ETF	78462f103	506	1,965	SH		SOLE		1,755	0	210
SPDR Dow Jones Industrial Aver	ETF	78467x109	330	1,505	SH		SOLE		1,505	0	0
SPDR Portfolio Mid Cap ETF	ETF	78464A847	1,221	48,222	SH		SOLE		47,766	0	456
SPDR S&P 500 Growth ETF	ETF	78464A409	6,075	169,976	SH		SOLE		167,047	0	2,929
SPDR S&P 500 Value ETF	ETF	78464A508	3,565	137,965	SH		SOLE		133,481	0	4,484
Schwab U.S. Large-Cap ETF	ETF	808524201	438	7,150	SH		SOLE		7,150	0	0
Schwab U.S. Large-Cap Growth E	ETF	808524300	441	5,536	SH		SOLE		5,162	0	374
Vanguard High Dividend Yield I	ETF	921946406	226	3,188	SH		SOLE		3,188	0	0
Vanguard Mega Cap 300 Growth I	ETF	921910816	549	4,319	SH		SOLE		4,319	0	0
SPDR Portfolio Small Cap ETF	SMLC	78468R853	1,632	74,703	SH		SOLE		74,175	0	528
iShares S&P SmallCap 600 Index	SMLC	464287804	290	5,162	SH		SOLE		5,052	0	110
SPDR Portfolio Emerging Market	INTL	78463X509	2,110	74,133	SH		SOLE		73,722	0	411
SPDR S&P World ex-US ETF	INTL	78463X889	2,285	95,464	SH		SOLE		95,064	0	400
Schwab Emerging Markets Equity	INTL	808524706	222	10,746	SH		SOLE		9,837	0	909
Schwab International Equity ET	INTL	808524805	437	16,922	SH		SOLE		15,031	0	1,891
Vanguard Emerging Markets Stoc	INTL	922042858	370	11,015	SH		SOLE		11,015	0	0
Vanguard FTSE Developed Market	INTL	921943858	677	20,313	SH		SOLE		20,113	0	200
BlackRock Int. Duration Munici	FIXD	09253X102	341	26,090	SH		SOLE		25,660	0	430
BlackRock MuniAssets Fund	FIXD	09254j102	426	31,995	SH		SOLE		31,995	0	0
Invesco CEF Income Composite E	FIXD	46138e404	857	48,953	SH		SOLE		45,263	0	3,690
Nuveen Dividend Advantage Muni	FIXD	67071l106	155	10,525	SH		SOLE		10,525	0	0
Nuveen Municipal Value Fund In	FIXD	670928100	305	31,200	SH		SOLE		31,200	0	0
PIMCO Corporate Opportunity Fu	FIXD	72201b101	267	20,655	SH		SOLE		20,655	0	0
Putnam Master Intrm Inc Tr	FIXD	746909100	65	15,900	SH		SOLE		15,900	0	0
SPDR Portfolio Aggregate Bond	FIXD	78464a649	2,973	98,377	SH		SOLE		95,336	0	3,041
SPDR Short Term Municipal Bond	FIXD	78468r739	247	5,043	SH		SOLE		5,043	0	0
Templeton Global Income Fund	FIXD	880198106	151	28,300	SH		SOLE		7,400	0	20,900
Vanguard Intermediate-Term Bon	FIXD	921937819	219	2,453	SH		SOLE		518	0	1,935
WisdomTree Floating Rate Treas	FIXD	97717X628	1,052	41,907	SH		SOLE		40,748	0	1,159
iShares Barclays TIPS Bond Fun	FIXD	464287176	492	4,173	SH		SOLE		3,563	0	610
iShares Core International Agg	FIXD	46435g672	1,799	32,890	SH		SOLE		32,140	0	750
iShares iBoxx Invest Grade Cor	FIXD	464287242	751	6,080	SH		SOLE		5,960	0	120
Gold Shares SPDR	CMDT	78463v107	3,207	21,664	SH		SOLE		21,349	0	315
Sprott Physical Gold and Silve	CMDT	85208r101	195	13,325	SH		SOLE		825	0	12,500
SPDR Dow Jones Global Real Est	REAL	78463x749	742	20,602	SH		SOLE		20,258	0	344
ProShares S&P 500 Index Invers	HEDG	74347b425	4,523	163,515	SH		SOLE		161,255	0	2,260